Municipal Government, As Illustrated By the Charter, Finances And Public Charities of New York
Municipal Government, As Illustrated By the Charter, Finances And Public Charities of New York
Bird Sim Coler
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no INCOME AND EXPENSES m But history will not judge the wisdom of consolidation in this light. History will ask : Has consolidation made living in the city of New York healthier, securer, happier, and more profitable ? As it has added to or detracted from the sum of human welfare in the metropolis, so shall it be judged. To give a complete answer to this question would be far beyond the limits of this brief work, even were such an answer possible at this time. It may be profitable, however, to ...discuss certain important effects of consolidation which time has now made sufficiently mani- fest, and of these the financial problem is perhaps the most important. The effect of consolidation upon our mu- nicipal finances may be summarized under two heads : First. In regard to the annual taxes levied upon the taxpayers ; Secondly. In regard to the ability of the city to undertake permanent public improve- ments by the use of its credit. 112 MUNICIPAL GOVERNMENT The city's annual taxes represent, or should properly represent, only what in a private corporation would be called expenses of "maintenance and operation." Interest on the funded debt with the necessary Sink- ing Fund installments for its redemption.
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